On-line recruitment giant SEK bounced just over 30% from its panic June low, we expect a similar recovery when current bond jitters subside but from where is the million dollar question? Seek has already delivered a solid set of FY22 results which should add comfort to buyers by alleviating the risk of a left-field surprise for the $7.9bn online recruitment business.
- Ideally we will see SEK spike under $19 in line with new highs by bond yields which we believe will provide a phenomenal risk/reward buying opportunity.
- However we are considering accumulating into weakness because markets rarely deliver the “perfect world” scenario and SEK has already pulled back 11%.
MM is a keen buyer into weakness by SEK
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